Global Financial Private Client LLC Sells 6,552 Shares of Johnson & Johnson (NYSE:JNJ)

Global Financial Private Client LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 79.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,645 shares of the company’s stock after selling 6,552 shares during the period. Global Financial Private Client LLC’s holdings in Johnson & Johnson were worth $240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vestmark Advisory Solutions Inc. boosted its position in Johnson & Johnson by 12.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after purchasing an additional 2,201 shares during the period. Meridian Financial Partners LLC bought a new position in Johnson & Johnson during the second quarter worth $1,626,000. Summit Financial Wealth Advisors LLC boosted its position in Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares during the period. Gilbert & Cook Inc. boosted its position in Johnson & Johnson by 3.3% during the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after purchasing an additional 288 shares during the period. Finally, Private Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 8.7% in the fourth quarter. Private Wealth Partners LLC now owns 74,330 shares of the company’s stock valued at $11,650,000 after acquiring an additional 5,930 shares during the period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JNJ. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

NYSE JNJ traded up $1.63 during trading on Friday, hitting $165.86. 7,441,042 shares of the company’s stock were exchanged, compared to its average volume of 7,271,470. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company has a market cap of $399.17 billion, a PE ratio of 10.34, a P/E/G ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $165.98. The stock’s 50 day moving average price is $155.34 and its two-hundred day moving average price is $153.45.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. Research analysts expect that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.